Stanley Works Official Quits

Richard G. Martin, a central figure in a suspected nationwide price-fixing conspiracy, has quietly left his position as president and general manager of The Stanley Works hardware division.

Reached Monday at his home in Avon, Martin, 45, said he left the company last week, but wouldn't discuss the circumstances of his departure. Asked whether Martin's leaving was related to the suspected conspiracy, a spokeswoman for the company said, "The answer to that is no."

The company's public affairs office made available an in-house announcement that said Martin had left "to pursue other interests," which were not specified.

Federal authorities said that Martin was a central figure in a scheme to fix prices of architectural hinges, the principal products made at Stanley's aging hardware factory in New Britain.

Stanley, which was indicted with three other companies in May 1990, pleaded no contest to the felony price-fixing charge 12 months later. The company is awaiting sentencing.

Five individuals, including Martin and one of his then subordinates, John F. Hollfelder, also were indicted. Trials of Martin and the others are pending.

A federal antitrust official, Robert Wilder, told federal court in St. Louis when Stanley pleaded no contest that Hollfelder, "at the direction of his superior, Richard Martin, ... contacted representatives of other architectural hinge manufacturers to arrange meetings for the purpose of fixing prices of those hinges." Hollfelder attended the subsequent meetings, Wilder said.

The suspected conspiracy began in 1986 and ended about two years later, federal authorities have said.

In February 1990, Stanley sent rebate checks to contract hardware customers who bought architectural hinges from Jan. 1, 1987, to May 31, 1988.